Selling Now and Renting
This article is from Gannett via the Asbury Park Press. In the Jersey Shore area I have seen lots of single family house for rent and the rental prices look like bargains next to the cost to own.
"Kurt Nishimura is taking a calculated ride on the nation's real estate wave. He sold his home in the Willo neighborhood of Phoenix, believing its value has topped out, and is renting an apartment for a year, hoping to buy something after the wave has crested.
Nishimura is not alone.
A few people are cashing in, some for good, others to sit it out for a while, hoping to beat the market. They're betting on a crash, on the belief that the market will soon cool, and there will be bargains for the picking.
The idea: Get your money out near the top and, if you're near retirement, keep it; if you're not, wait until the market drops to get back in.
But the move is risky, akin to day trading, according to financial and real estate experts. You could win big or lose big."
More...
"Kurt Nishimura is taking a calculated ride on the nation's real estate wave. He sold his home in the Willo neighborhood of Phoenix, believing its value has topped out, and is renting an apartment for a year, hoping to buy something after the wave has crested.
Nishimura is not alone.
A few people are cashing in, some for good, others to sit it out for a while, hoping to beat the market. They're betting on a crash, on the belief that the market will soon cool, and there will be bargains for the picking.
The idea: Get your money out near the top and, if you're near retirement, keep it; if you're not, wait until the market drops to get back in.
But the move is risky, akin to day trading, according to financial and real estate experts. You could win big or lose big."
More...
posted by Little_Silvered at 9:09 AM
3 Comments:
I sold out and will be renting at the shore! Thats the same story about what I did!
I wonder if we made the right choice! Who knows! I cashed out, have no doubt and no home! I think cash will be king for the next two years anyway.
I'm noticing more single family houses for rent. I wrote last week that I noticed 3 in Little Silver within walking distance of Markham Place school. Little Silver never had any sf homes for rent until recently.
You have a great website here, and I'm going to tell all my friends about it.
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